News

Turkish Citizenship for 250 Thousand Dollars: All-time Record Was Broken

With the reduction of the investment limit from 1 million dollars to 250 thousand dollars in 2018, Turkey rose to the first place in the “citizenship by investment” league. Iraqis took the lead with 4 thousand 631 units, while Iranians took the second place with 4 thousand 600.

AIR PRIME

The Reciprocity Law, which paved the way for Turkish citizenship through the sale of housing to foreigners, came into effect in mid-2012. At that time, those who owned property in Turkey by paying 1 million dollars were given the opportunity to become Turkish citizens. In 2018, the amount required for Turkish Citizenship was reduced to 250 thousand dollars. This discount has led to a rapid increase in the number of foreigners who want to own a house in Turkey.

After the law came into force, the increase in sales especially in the last four years was remarkable, and the highest figure in this process was seen in 2019 with 45 thousand 483 units. From 2012, when the said law was enacted, until July 2021, the number of residences purchased by foreigners reached 245,334.

Foreigners Buying House in Turkey

ALL-TIME RECORD BROKEN IN 2021

While the number of residences bought by foreigners in Turkey was 12,181 in 2013, it increased to 18,959 in 2014 and 22,830 in 2015. The said figure, which was 18 thousand 189 in 2016, increased to 22 thousand 234 in 2017 and 39 thousand 663 in 2018. With the reduction of the investment limit from 1 million dollars to 250 thousand dollars in 2018, the number of sales broke a record in 2019 and reached 45 thousand 483. In 2020, 40,812, in the first 8 months of 2021, it was 30,849 with an increase of 47.6 percent compared to the same period of the previous year. This figure was recorded as an all-time record.

In the ranking of the nations with the most housing, Iraqis took the lead with 4 thousand 631 units, while Iranians took the second place with 4 thousand 600. Russians invested 2 thousand 575, Afghans 1,819, Germans 1,186, Kazakhstan citizens 1,129, Kuwaitis 873, US citizens 871, Azerbaijani Turks 858, Yemenis 810 housing investments.

Property Selling Graphiv

While 30 thousand 849 units were sold to foreigners in 8 months of the year, the highest January-August figure of all time was reached. Housing sales to foreigners in August 2021, on the other hand, brought the second highest level of all time with 5,866 units. Previously, the highest sales were achieved in October 2018 with 6 thousand 276 units.

Real estate sector representatives estimate that at least 15 thousand units will be sold in the last 4 months of the year due to the fluctuation in the currency and the effect of the pandemic, and the sales to foreigners, which peaked with 45 thousand 483 units in 2019, will move to a new historical level.

Real estate sector representatives estimate that at least 15 thousand units will be sold in the last 4 months of the year due to the fluctuation in the currency and the effect of the pandemic, and the sales to foreigners, which peaked with 45 thousand 483 units in 2019, will move to a new historical level.

Citizenship by buying Real Estate

Housing sales to foreigners increased by 50.7 percent in August compared to the same month of the previous year and became 5,866. In the housing sales to foreigners, Istanbul took the first place with the sales of 2 thousand 729 houses. Antalya was followed by Antalya with 976 house sales, Ankara with 400 house sales, Mersin with 242 house sales and Yalova with 233 house sales.

20 countries with the highest sales by nationality (August 2021)

HÜLLE INCREASED HOUSING PRICES IN HOUSE SALES TO FOREIGN

It is claimed that the hull made in house sales for citizenship is also effective in the rise in house prices. It is stated that there are those who bought the house for 100 thousand dollars, made an agreement with the seller, showed 250 thousand dollars in the deed and obtained Turkish citizenship for half the price.

Citizenship by Investment in Turkey

Real estate brooker Songül Toprak Özsan said that there are many fake sales of this type and that the licenses of some people who gave fake appraisal reports were canceled for this reason. Özsan said, “We hear that there are many people who make fake sales and present lower-priced houses as 250 thousand dollars, which is a citizenship requirement. This is especially true in Esenyurt, Beylikdüzü and Esenler regions. These sales increase the prices regionally. There are some projects, only Middle Easterners buy flats there.”

Resource : https://www.karar.com/ekonomi-haberleri/250-bin-dolara-turk-vatandasligi-tum-zamanlarin-rekoru-kirildi-1632407

Ata Kurumsal

Ata Institutional Consulting is a leading consultancy company in its field, with expert personnel, with 12 years of experience, providing residence permit, work permit, Turkish citizenship consultancy and corporate consultancy services to foreigners. Ata Instiutional Consultancy

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Back to top button

Ad Blocker Detected

Please close adblocker from your browser to read our articles.